Donald Trump’s tariff announcement has baffled global leaders and forced markets to reckon with the fallout from America’s dramatic shift in international trade policy. Panelists joined on Washington Week With The Atlantic to discuss what tanking financial markets could mean for the president’s administration.

“Trade has not delivered the benefits that economists and politicians of both parties have been promising for decades,” David Leonhardt explained last night. While the United States economy has tended to work in favor of educated professionals, blue-collar workers have not benefited in the same ways. Adjustments to trade policy could be one way to address this, but Trump’s tariffs are “shambolic, they’re extremely high,” and “no one knows whether he’s going to take them back the next day,” Leonhardt continued.

Joining the editor in chief of The Atlantic, Jeffrey Goldberg, to discuss this and more: Stephen Hayes, editor of The Dispatch; David Leonhardt, an editorial director for The New York Times editorial board; Kayla Tausche, a senior White House correspondent at CNN; Nancy Youssef, a national-security correspondent for The Wall Street Journal.

Watch the full episode here.